This week on TechBuzz China, our hosts Rui Ma and Ying-Ying Lu discuss two major stories in China tech. Rui talks about the upcoming initial public offering of Xiaomi, which will be the world’s largest since Alibaba’s debut in 2014, and Ying-Ying shares the news of Baidu’s new financial services spinoff, called Du Xiaoman Financial, which is already valued at $4 billion.
Rui and Ying-Ying take you back through the history of Xiaomi, and in for a close-up look at its legendary founder and CEO, Lei Jun. Why should Lei Jun be compared to Elon Musk instead of Steve Jobs, and why is Xiaomi going public just eight years after its founding?
Ying-Ying then gives you the inside dish on the new Du Xiaoman Financial that’s raising $1.9 billion at a $4 billion valuation. Rui shares how Alibaba and JD.com have done the same in the past, and explains that these moves skew the capital raising data from China. What does the decision really mean for Baidu, and how does it echo the disaster of LeEco? Tune in to find out!